Africa: Rum Market 2024

Rum Market Size in Africa

The African rum market amounted to $X in 2022, picking up by 2.3% against the previous year. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.9% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Rum Production in Africa

In value terms, rum production rose to $X in 2022 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.1% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 23%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Rum Exports

Exports in Africa

For the third consecutive year, Africa recorded growth in overseas shipments of rum, which increased by 15% to X litres in 2022. Overall, exports showed prominent growth. The pace of growth appeared the most rapid in 2017 with an increase of 41%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, rum exports rose notably to $X in 2022. Over the period under review, exports enjoyed prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 67%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Swaziland (X litres) and Mauritius (X litres) dominates exports structure, together committing 84% of total exports. It was distantly followed by South Africa (X litres), constituting an 8.5% share of total exports. Cote d'Ivoire (X litres) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Swaziland (with a CAGR of +48.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest rum supplying countries in Africa were Mauritius ($X), Swaziland ($X) and South Africa ($X), with a combined 83% share of total exports.

Swaziland, with a CAGR of +52.2%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Africa stood at $X per litre in 2022, reducing by -6.7% against the previous year. Overall, the export price showed a pronounced descent. The pace of growth appeared the most rapid in 2014 when the export price increased by 38%. Over the period under review, the export prices attained the maximum at $X per litre in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($X per litre), while Swaziland ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+6.2%), while the other leaders experienced more modest paces of growth.

Rum Imports

Imports in Africa

In 2022, rum imports in Africa fell to X litres, waning by -9.7% against the previous year's figure. Total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.2% against 2015 indices. The growth pace was the most rapid in 2021 with an increase of 52% against the previous year. As a result, imports attained the peak of X litres, and then fell in the following year.

In value terms, rum imports fell to $X in 2022. The total import value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 54%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, Ghana (X litres), distantly followed by South Africa (X litres), Burkina Faso (X litres), Togo (X litres), Nigeria (X litres) and Democratic Republic of the Congo (X litres) represented the largest importers of rum, together generating 68% of total imports. Congo (X litres), Tanzania (X litres), Gabon (X litres), Seychelles (X litres), Cote d'Ivoire (X litres), Angola (X litres) and Morocco (X litres) followed a long way behind the leaders.

Ghana was also the fastest-growing in terms of the rum imports, with a CAGR of +37.9% from 2012 to 2022. At the same time, Seychelles (+22.4%), Cote d'Ivoire (+20.8%), Democratic Republic of the Congo (+19.4%), Togo (+12.6%), Congo (+11.7%), Burkina Faso (+10.3%), Tanzania (+7.6%), Gabon (+5.0%), Nigeria (+4.6%) and Morocco (+4.1%) displayed positive paces of growth. By contrast, South Africa (-3.3%) and Angola (-19.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Burkina Faso, Togo, Democratic Republic of the Congo, Congo, Seychelles and Cote d'Ivoire increased by +26, +5.3, +3.7, +3.5, +2.1, +1.9 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X), Ghana ($X) and Burkina Faso ($X) were the countries with the highest levels of imports in 2022, together comprising 45% of total imports.

Among the main importing countries, Ghana, with a CAGR of +34.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per litre in 2022, growing by 3.6% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2013 when the import price increased by 8.9% against the previous year. As a result, import price attained the peak level of $X per litre. From 2014 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Gabon ($X per litre), while Tanzania ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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